On Monday, May 2, more details of the massive bribery and racketeering allegedly perpetrated by Swiss Timing / Omega in landing the TSR contract for India's Commonwealth Games were released to the press.
Two more arrest warrants were issued, adding to outstanding INTERPOL warrants already issued for the arrest of two executives from Swiss Timing. The two new warrants named executives of GEM, an Indian firm which allegedly conspired with Swiss Timing / Omega to bribe CQG officials and extort money.
http://economictimes.indiatime...icleshow/8137919.cms
Some key points of the indictments:
Swiss Timing / Omega's's quote for TSR was 3x that submitted by business competitor MSL, yet Swiss Timing / Omega's was the one accepted.
"It is alleged that officials of the OC conspired with representatives of the Swiss firm and the contract for TSR was awarded by wrongfully restricting and eliminating competition from other suppliers in a pre-meditated and planned manner"
"Investigation has also revealed that members of the tender evaluation committee were coerced and threatened to disqualify other bidders."